Company Registration No. 05484155 (England and Wales)
CAMERON BUILDING DEVELOPMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2021
PAGES FOR FILING WITH REGISTRAR
30-31 St.James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
CAMERON BUILDING DEVELOPMENT LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
CAMERON BUILDING DEVELOPMENT LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr S D Cameron
Mrs S J Cameron
Secretary
Mrs S J Cameron
Company number
05484155
Registered office
30-31 St James Place
Mangotsfield
Bristol
South Glos.
England
BS16 9JB
Accountants
TC Group
30-31 St.James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
CAMERON BUILDING DEVELOPMENT LIMITED
BALANCE SHEET
AS AT
31 MARCH 2021
31 March 2021
- 2 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
45,557
60,743
Investment properties
4
1,400,000
1,400,000
1,445,557
1,460,743
Current assets
Stocks
771,146
1,772,642
Debtors
5
943,615
654,739
Cash at bank and in hand
1,898,276
654,814
3,613,037
3,082,195
Creditors: amounts falling due within one year
6
(1,319,426)
(1,447,000)
Net current assets
2,293,611
1,635,195
Total assets less current liabilities
3,739,168
3,095,938
Creditors: amounts falling due after more than one year
7
(7,500)
(17,500)
Provisions for liabilities
(209,600)
(212,485)
Net assets
3,522,068
2,865,953
Capital and reserves
Called up share capital
51
51
Profit and loss reserves
3,522,017
2,865,902
Total equity
3,522,068
2,865,953
CAMERON BUILDING DEVELOPMENT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2021
31 March 2021
- 3 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 8 November 2021 and are signed on its behalf by:
Mr S D Cameron
Director
Company Registration No. 05484155
The notes on pages 4 to 8 form part of these financial statements
CAMERON BUILDING DEVELOPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
- 4 -
1
Accounting policies
Company information
Cameron Building Development Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
30-31 St James Place, Mangotsfield, Bristol, South Glos., England, BS16 9JB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that
it is probable will be
recover
ed
.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Motor vehicles
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
CAMERON BUILDING DEVELOPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
1
Accounting policies
(Continued)
- 5 -
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure
. Subsequently it is measured
at fair value a
t
the reporting end date.
Changes in fair value are recognised in profit or loss.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the
profit and loss account
, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
CAMERON BUILDING DEVELOPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
1
Accounting policies
(Continued)
- 6 -
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
2
2
3
Tangible fixed assets
Motor vehicles
£
Cost
At 1 April 2020 and 31 March 2021
64,793
Depreciation and impairment
At 1 April 2020
4,050
Depreciation charged in the year
15,186
At 31 March 2021
19,236
Carrying amount
At 31 March 2021
45,557
At 31 March 2020
60,743
4
Investment property
2021
£
Fair value
At 1 April 2020 and 31 March 2021
1,400,000
CAMERON BUILDING DEVELOPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
- 7 -
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Other debtors
943,615
654,739
6
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
80,000
Taxation and social security
157,727
69,135
Other creditors
1,161,699
1,297,865
1,319,426
1,447,000
Within the balance for Other Creditors includes £
344,650
(20
20
,
£454,530
) owed to Cameron Building Services
Limited, a company of which the directors of Cameron Building Development Limited are majority shareholders.
7
Creditors: amounts falling due after more than one year
2021
2020
£
£
Other creditors
7,500
17,500
8
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2021
2020
Balances:
£
£
Accelerated capital allowances
8,656
11,541
Investment property
200,944
200,944
209,600
212,485
CAMERON BUILDING DEVELOPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
8
Deferred taxation
(Continued)
- 8 -
2021
Movements in the year:
£
Liability at 1 April 2020
212,485
Credit to profit or loss
(2,885)
Liability at 31 March 2021
209,600